Just three of the 11 green hydrogen projects selected for UK Government revenue support have received funding contracts, with the remaining developments expected to receive the agreements in early 2025.
Based on the original timelines, all of the projects – that had been shortlisted for funding over a year ago – should have received the contracts in Q1 2024.
The 11 projects – offering a combined capacity of 125MW – would secure a strike price of £241/MWh ($307/MWh), which is just over £9/kg ($11.48/kg of hydrogen – through the Hydrogen Production Business Model (HPBM). Additionally, over £90m ($114.8m) from the Net Zero Hydrogen Fund (NZHF) had been allocated to support their construction.
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